COMPUTERSHARE LIMITED. — AGM Information 2018

Nov 13, 2018

2018 ANNUAL GENERAL MEETING Executing to plan

14 November 2018

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2018 ANNUAL GENERAL MEETING

Chairman’s address

Simon Jones

14 November 2018

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Executive summary

FY18 solid results, fastest rate of earnings growth since FY09

Management results in USD[1 ] Revenue EBITDA EPS $2,247.7m 6.3% $609.7m 12.7% 62.10 cents 14.1%

FY18 Management EPS grew strongly (+14.1%) driven by good progress in Mortgage Services, increased event activity in Stakeholder Relationship Management and Class Actions, cyclical recovery in Corporate Actions, improved margin income and disciplined cost management

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1 Management results are expressed in constant currency throughout this presentation unless otherwise stated. Constant currency equals FY18 results translated to USD at FY17 average exchange rates.

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Delivering earnings growth and high returns

0 10 20 30 40 50 60 70 US cents	49.09 54.85 60.24 59.82 55.09 54.41 63.38 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% FY12 FY13 FY14 FY15 FY16 FY17 FY18 Post-tax ROIC % Management EPS Post-tax ROIC

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Management EPS translated to USD at actual FX rates for that year Return on invested capital (ROIC) = (Mgt EBITDA less depreciation & amortisation less income tax expense)/(net debt + total equity).

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Consistent dividend track record

Full-year dividend increased by 11.1% versus pcp

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45
40
35
30
25
20
15
10
5
28 28 29 31 33 36 40
0
FY12 FY13 FY14 FY15 FY16 FY17 FY18
Dividend Per Share
AU cents
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Generating sustained returns for shareholders

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Corporate Responsibility Community

Globally, Computershare is dedicated to supporting initiatives which help alleviate poverty through our community giving scheme, Change A Life. This important and long-running programme has a focus on sustainability by investing 80% of donations in global projects that provide long-term solutions to the communities our employees vote to work with. The remaining 20% of donations go to local projects via established charities, chosen by our local employees. Computershare matches all employee payroll donations.

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Corporate Responsibility

Supporting local charities around the CPU world

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Corporate Responsibility Sustainability

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Board succession – orderly transition

• › Farewell and thanks to Penny Maclagan and Les Owen

Welcome Lisa Gay, Abi Cleland and Paul Reynolds

• ›

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Abi Cleland

Penny Maclagan

Lisa Gay

Les Owen

Paul Reynolds

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2018 ANNUAL GENERAL MEETING

CEO’s address

Stuart Irving 14 November 2018

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Growth: Mortgage Services Delivering to plan

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USA Revenue
320
300
306.1
280
260
257.2
240
220
FY17 FY18
UK Revenue
260
255
250 254.1
245
240
239.7
235
230
FY17 FY18
USD millions
USD millions
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FY18 - USA
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Other Service
Fees
28%
Base
Servicing
Fees
$306.1m 56%
Servicing
Related Fees
16%
UK Revenue and EBITDA – FY18 to FY23
Book expected to
turn to positive
organic growth by
FY20 / FY21
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UK Revenue and EBITDA – FY18 to FY23

Note - Chart not to scale

UKAR Revenue Non UKAR Revenue EBITDA

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Growth: Employee Share Plans Equatex acquisition - laying the foundations for future growth

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Complementary High quality customer
Enhancing capabilities Synergies affirmed
geographic fit base
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Profitability: Structural cost out programs progressing well Stages 1, 2 and 3 total gross savings of $125m - $155m affirmed

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Profitability: Margin income

2H18 margin income highlights leverage to rising interest rates

0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0	14.4 14.0 15.1 15.2 15.0 16.3 16.6 16.8 17.3 16.6 105.8 86.8 89.4 86.4 79.0 74.3 66.6 69.6 79.6 99.9 20.0 40.0 60.0 80.0 100.0 120.0 140.0 1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 Average balances Margin Income (USD m) Sharp improvement from cyclical lows

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Note: Margin income and balances translated at actual FX rates for the period

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Global Registry returns to organic growth High quality revenues

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400
350
300
250
200
150
100
50
329.7 368.2 330.6 379.8
0
1H17 2H17 1H18 2H18
Register Maintenance
USD millions
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*Translated at FY17 avg fx rates.

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Capital management

Free cash flow funds growth, debt reduction and enhanced returns

Self-fund growth investments – MSR purchases $89.4m

Cash generative business model – Free Cash Flow $379.2m

Capital light, high returns – ROIC 18.2% Post tax

Full-year dividend 40 AU cents per share -

Equatex acquisition – accelerates Share Plans growth engine

Debt reduction – down $40.2m, 1.33x leverage ratio

40-60% payout ratio policy

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Trading update and guidance

Guidance

• › At this early stage of the year, we confidently affirm our FY19 Management EPS guidance, to increase by around +10% on FY18 in constant currency

Commentary

• › Encouraging start to FY19 trading with growth in US Mortgage Services and Employee Share Plans, profitability in Registry and improving Margin Income

• › Guidance includes a contribution from Equatex for seven months of the year (completed on Monday 12 November) and the sale of Karvy in 1H19

• › An updated guidance statement will be provided with the 1HFY19 results release in February 2019

• › All other guidance assumptions are as per page 4 of the 15 August 2018 Results presentation

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Summary

Delivering multi-year earnings growth

Laying the foundations for sustained growth, extending our competitive moats and executing our strategic priorities

Purposefully designed Growth, Profitability and Capital Management strategies delivering results

Strong free cash flow self-funds growth engines, strategic investments and enhanced shareholder returns

Guidance: Confidently affirm FY19 Management EPS to increase by around 10% on FY18

Optionality converting into profitability; margin income, corporate actions and other eventbased activity across CPU

Transformation to a simpler, transparent and disciplined CPU driving multi-year sustained earnings growth

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Important notice

Summary information

• This announcement contains summary information about Computershare and its activities current as at the date of this announcement.

• This announcement is for information purposes only and is not a prospectus or product disclosure statement, financial product or investment advice or a recommendation to acquire Computershare’s shares or other securities. It has been prepared without taking into account the objectives, financial situation or needs of a particular investor or a potential investor. Before making an investment decision, a prospective investor should consider the appropriateness of this information having regard to his or her own objectives, financial situation and needs and seek specialist professional advice.

Financial data

• Management results are used, along with other measures, to assess operating business performance. The company believes that exclusion of certain items permits better analysis of the Group’s performance on a comparative basis and provides a better measure of underlying operating performance.

• Management adjustments are made on the same basis as in prior years.

• The non-IFRS financial information contained within this document has not been reviewed or audited in accordance with Australian Auditing Standards.

• All amounts are in United States dollars, unless otherwise stated.

Past performance

• Computershare’s past performance, including past share price performance and financial information given in this announcement is given for illustrative purposes only and does not give an indication or guarantee of future performance.

Future performance and forward-looking statements

• This announcement may contain forward-looking statements regarding Computershare’s intent, belief or current expectations with respect to Computershare’s business and operations, market conditions, results of operations and financial condition, specific provisions and risk management practices.

• When used in this announcement, the words ‘may’, ‘will’, ‘expect’, ‘intend’, ‘plan’, ‘estimate’, ‘anticipate’, ‘believe’, ‘continue’, ‘should’, ‘could’, ‘objectives’, ‘outlook’, ‘guidance’ and similar expressions, are intended to identify forward-looking statements. Indications of, and guidance on, plans, strategies, management objectives, sales, future earnings and financial performance are also forward-looking statements.

• Forward-looking statements are provided as a general guide only and should not be relied upon as a guarantee of future performance. They involve known and unknown risks, uncertainties, contingencies, assumptions and other important factors that are outside the control of Computershare.

• Actual results, performance or achievements may differ materially from those expressed or implied in such statements and any projections and assumptions on which these statements are based. Computershare makes no representation or undertaking that it will update or revise such statements.

Disclaimer

• No representation or warranty, expressed or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. To the maximum extent permitted by law, none of Computershare or its related bodies corporate, or their respective directors, employees or agents, nor any other person accepts liability for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it, including, without limitation, any liability from fault or negligence.

Not intended for foreign recipients

• No part of this announcement is intended for recipients outside Australia. Accordingly, recipients represent and warrant that they are able to receive this announcement without contravention of any applicable legal or regulatory restrictions in the jurisdiction in which they reside or conduct business.

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